Cookies need to be enabled to log into SVB.com. Please accept cookies from this site.

We would like to place cookies on your computer to improve the experience of using our website. You may block cookies from this site but parts of the site will not work. To find out more about the cookies we use and how to delete them, see our cookies policy.

Let's Hope Ben Stays

The views expressed in this column are solely those of the author and do not reflect the views of SVB Financial Group, or Silicon Valley Bank, or any of its affiliates.

On Tuesday, President Obama let it slip that Bernanke is likely to step down when his current term ends in January. This would be the first voluntary removal of a Fed Chairman since Volcker left in August, 1987. Some may recall what happened two months later. Since joining the Fed in 2006, Bernanke has steered this country's most powerful economic tampering machine through the
roughest of waters. The best most can say about the job he has done thus far is that it would have been far worse without those efforts. Of course, some feel much less joyful about
his tenure to date.

But no matter your opinion of his efforts, it is clear he is only halfway done. The effects of massive stimulus will come and who better to have at the helm than the person who set such effects in motion?

No one takes the Fed job for the salary or the perks. It is an attractive position for the power it contains and the reputation one can make.

So, if Ben is choosing to step down, a natural question is "hashis reputation peaked" or in other words "is there only downsidefrom here?"

On the other hand, if President Obama has decided Ben should be replaced, I - along with the markets - will wonder what a new Fed Chair(wo)man* will bring?

*Janet Yellen, Vice Chair of the Fed, is widely expected to move up into the Chairman's spot after Bernanke leaves - whenever that may be.

The views expressed in this column are solely those of the author and do not reflect the views of SVB Financial Group, or SVB Asset Management, or any of its affiliates. This material, including without limitation the statistical information herein, is provided for informational purposes only. The material is based in part upon information from third-party sources that we believe to be reliable, but which has not been independently verified by us and, as such, we do not represent that the information is accurate or complete. The information should not be viewed as tax, investment, legal or other advice nor is it to be relied on in making an investment or other decisions. You should obtain relevant and specific professional advice before making any investment decision. Nothing relating to the material should be construed as a solicitation or offer, or recommendation, to acquire or dispose of any investment or to engage in any other transaction.

SVB Asset Management, a registered investment advisor, is a non-bank affiliate of Silicon Valley Bank and member of SVB Financial Group. Products offered by SVB Asset Management are not FDIC insured, are not deposits or other obligations of Silicon Valley Bank, and may lose value.

The views expressed in this column are solely those of the author and do not reflect the views of SVB Financial Group, or Silicon Valley Bank, or any of its affiliates.

On Tuesday, President Obama let it slip that Bernanke is likely to step down when his current term ends in January. This would be the first voluntary removal of a Fed Chairman since Volcker left in August, 1987. Some may recall what happened two months later. Since joining the Fed in 2006, Bernanke has steered this country's most powerful economic tampering machine through the roughest of waters. The best most can say about the job he has done thus far is that it would have been far worse without those efforts. Of course, some feel much less joyful about his tenure to date.

But no matter your opinion of his efforts, it is clear he is only halfway done. The effects of massive stimulus will come and who better to have at the helm than the person who set such effects in motion?

No one takes the Fed job for the salary or the perks. It is an attractive position for the power it contains and the reputation one can make.

So, if Ben is choosing to step down, a natural question is "hashis reputation peaked" or in other words "is there only downsidefrom here?"

On the other hand, if President Obama has decided Ben should be replaced, I - along with the markets - will wonder what a new Fed Chair(wo)man* will bring?

*Janet Yellen, Vice Chair of the Fed, is widely expected to move up into the Chairman's spot after Bernanke leaves - whenever that may be.

Policy

About Us

Silicon Valley Bank is registered in England and Wales at 41 Lothbury, London EC2R 7HF, UK under No. FC029579. Silicon Valley Bank is authorised and regulated by the California Department of Business Oversight and the United States Federal Reserve Bank; authorised by the Prudential Regulation Authority with number 577295; and subject to regulation by the Financial Conduct Authority and limited regulation by the Prudential Regulation Authority. Details about the extent of our regulation by the Prudential Regulation Authority are available from us on request. Silicon Valley Bank is a subsidiary of SVB Financial Group, a Delaware corporation and is an affiliate of SVB Financial Group UK Limited. SVB Financial Group UK Ltd is registered in England and Wales at 41 Lothbury, London EC2R 7HF, UK under No. 5572575 and is authorised and regulated by the Financial Conduct Authority, with reference number 446159. SVB Financial Group and its subsidiary Silicon Valley Bank are members of the Federal Reserve System and Silicon Valley Bank is a member of the FDIC.